BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry



« News Home
:: Monthly Archive

News Topics
:: Air Pollution
:: Agreements & M&A's
:: Alternative Fuels
:: BunkerBlog
:: Cargoes & Storage
:: Company News
:: Efficiency, Costs & Charges
:: Environment
:: Events
:: Financial
:: Fuel Quality & Testing
:: Lubes & Additives
:: Oil Spills
:: People
:: Port News
:: Projects
:: Regulation, Legal
:: Services, Products,Technology
:: Statistics & Research
:: Vessels

Regional Archive
:: Americas
:: Asia/Oceania
:: Europe
:: M.East/Africa


BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
Home » News



Birns: WFS could see improved marine hedging activity and margins with rising prices

CFO discusses the positive effect of higher prices on marine performance.



Ira Birns, executive vice president and chief financial officer (CFO) of World Fuel Services Corporation. Image credit: World Fuel Services


Updated on 27 Oct 2017 11:36 GMT

The executive vice president and chief financial officer (CFO) of World Fuel Services, Ira Birns, discussed the positive effect of rising oil prices on the performance of its marine and hedging business during the company's latest earnings call on Thursday.

Birns explained that the company's hedging operation has been "very weak recently", but said that if prices continued to rise, "the opportunity for that type of business to come back picks up pretty significantly".

The World Fuel Services CFO noted that the company could see both improved derivative sales activity and core margins as a result of continued rising prices.

Additionally, the offshore market could expand again if oil prices increase, Birns pointed out.

"As prices go up, we have an opportunity to see some large improvements in marine more quickly than we would necessarily see in our other businesses - just because of the spot nature of that business," Birns observed.

Asia

World Fuel Services explained that the biggest factor influencing the year-on-year (YoY) drop in marine sales volume during the third quarter (Q3) of 2017 was related to the Asian market.

Birns remarked: "The [marine] gross profit decline was again principally driven by reduced volume in our resale business in Asia, as well as a further decline in profits from the sale of price risk management products globally."

Between July and September, sales volume fell YoY by 1 million tonnes, or 12.8 percent, to 6.8 million tonnes.






Related Links:

WFS marine: higher revenue, lower gross profit and sales volume
World Fuel Services posts third-quarter results
World Fuel Services appoints former IBM CIO Jeff Smith as COO
IT specialist Stephen Gold joins World Fuel Services' board of directors
World Fuel Services announces renewal of share repurchase program
World Fuel Services Corp.
United States

Latest News:

Singapore's record H1 was lowest six-month sales period since May-November
2020: Papering over the cracks
Nine-month high: Singapore sees rise in bunker calls as percentage of ship arrivals
Oil and fuel oil hedging market update
Pegasus has bunker craft operator licence revoked in Singapore
Singapore Q2 bunker sales lower than in 2016
Oil rises a second consecutive day but ends the week much lower
Singapore H1 bunker sales surpass 25m tonnes for first time
Brightoil explains how new exchange rules could affect its listing status
Oil and fuel oil hedging market update
Wartsila inks EUR 170m deal to retrofit scrubbers
Singapore bunker sales up YoY... but second-lowest in 16 months




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Cape Town
Fujairah
Houston
Istanbul
Kaohsiung
Las Palmas
Maracaibo
New Orleans
Piraeus
Rio de Janeiro
Rotterdam
Santos
Singapore
News
Latest News
Blogs
Archive
Americas
Asia
Europe
Middle East
News
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Environment
Events
Financial
Fuel Quality
Lubes & Additives
Oil Spills
People
Port News
Projects
Regulation/Legal
Services, Products, Technology
Statistics & Research
Vessels
Contact & Terms
Contact Us
Advertise
Terms & Conditions
Privacy Policy
Events
Upcoming Events